New Zealand Legislation: Regulations
Regulations are laws made under Acts
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as at 15 January 2002
(SR 2001/160)
Silvia Cartwright, Governor-General
At Wellington this 25th day of June 2001
Present:
Her Excellency the Governor-General in Council
Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this reprint.
A general outline of these changes is set out in the notes at the end of this reprint, together with other explanatory material about this reprint.
These regulations are administered by the Ministry of Economic Development.
Pursuant to section 46 of the Takeovers Act 1993, Her Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following regulations.
These regulations are the Takeovers (Fees) Regulations 2001.
These regulations come into force on 1 July 2001.
In these regulations, unless the context otherwise requires,—
Act means the Takeovers Act 1993
Code means the Takeovers Code approved by the Takeovers Code Approval Order 2000 (SR 2000/210).
(1) The Panel may require payment to it of—
(a) a fee of $112.50 for an application referred to in subclause (2); and
(b) a fee calculated at the following hourly rates in respect of any of those applications:
(i) for work carried out by a member of the Panel, an hourly rate of $225:
(ii) for work carried out by an officer or employee of the Panel or of the Securities Commission who holds a qualification in accountancy, business, commerce, economics, or law, an hourly rate of $163; and
(c) the costs incurred by the Panel for any of those applications in obtaining expert advice or expert assistance.
(2) The fees and amounts set out in subclause (1) apply in respect of—
(a) an application for an exemption under section 45 of the Act:
(b) an application for approval under rule 39(c) of the Code:
(c) an application for approval to act as an independent adviser under the Code:
(d) an application for consent to withdraw an offer under rule 26(1) of the Code:
(e) an application for the appointment of an independent person under rule 58(1) of the Code.
(1) The Panel may require payment to it of—
(a) a fee of $1,125 in respect of a meeting that is requested by a third party to be held under section 32 of the Act; and
(b) a fee calculated at the following hourly rates in respect of a meeting held under section 32 of the Act and in respect of the exercise of any of the Panel's powers under that section:
(i) for work carried out by a member of the Panel, an hourly rate of $225:
(ii) for work carried out by an officer or employee of the Panel or of the Securities Commission who holds a qualification in accountancy, business, commerce, economics, or law, an hourly rate of $163; and
(c) the costs incurred by the Panel in obtaining, in respect of a meeting held under section 32 of the Act and in respect of the exercise of any of the Panel's powers under that section, expert advice or expert assistance.
(2) The fees and amounts set out in subclause (1) are payable, at the discretion of the Panel, either by—
(a) a third party who has requested that the Panel hold a meeting under section 32 of the Act; or
(b) a person against whom the Panel has made a determination under section 32(3)(b) of the Act.
The Panel may require payment to it of the costs incurred by it in—
(a) the printing and publication in the Statutory Regulations series of an exemption notice under section 45 of the Act; and
(b) the publication in the Gazette of a notice under the Acts and Regulations Publication Act 1989 of an exemption notice under section 45 of the Act.
Regulation 5A: inserted, on 15 January 2002, by regulation 3 of the Takeovers (Fees) Amendment Regulations 2001 (SR 2001/390).
The fees prescribed in regulations 4 and 5 are inclusive of goods and services tax.
Marie Shroff,
Clerk of the Executive Council.
Date of notification in Gazette: 28 June 2001.
1General
2Status of reprints
3How reprints are prepared
4Changes made under section 17C of the Acts and Regulations Publication Act 1989
5List of amendments incorporated in this reprint (most recent first)
This is a reprint of the Takeovers (Fees) Regulations 2001. The reprint incorporates all the amendments to the regulations as at 15 January 2002, as specified in the list of amendments at the end of these notes.
Relevant provisions of any amending enactments that have yet to come into force or that contain relevant transitional or savings provisions are also included, after the principal enactment, in chronological order.
Under section 16D of the Acts and Regulations Publication Act 1989, reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by the amendments to that enactment. This presumption applies even though editorial changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in the reprint.
This presumption may be rebutted by producing the official volumes of statutes or statutory regulations in which the principal enactment and its amendments are contained.
A number of editorial conventions are followed in the preparation of reprints. For example, the enacting words are not included in Acts, and provisions that are repealed or revoked are omitted. For a detailed list of the editorial conventions, see http://www.pco.parliament.govt.nz/editorial-conventions/ or Part 8 of the Tables of New Zealand Acts and Ordinances and Statutory Regulations and Deemed Regulations in Force.
Section 17C of the Acts and Regulations Publication Act 1989 authorises the making of editorial changes in a reprint as set out in sections 17D and 17E of that Act so that, to the extent permitted, the format and style of the reprinted enactment is consistent with current legislative drafting practice. Changes that would alter the effect of the legislation are not permitted.
A new format of legislation was introduced on 1 January 2000. Changes to legislative drafting style have also been made since 1997, and are ongoing. To the extent permitted by section 17C of the Acts and Regulations Publication Act 1989, all legislation reprinted after 1 January 2000 is in the new format for legislation and reflects current drafting practice at the time of the reprint.
In outline, the editorial changes made in reprints under the authority of section 17C of the Acts and Regulations Publication Act 1989 are set out below, and they have been applied, where relevant, in the preparation of this reprint:
•omission of unnecessary referential words (such as “of this section”
and “of this Act”
)
•typeface and type size (Times Roman, generally in 11.5 point)
•layout of provisions, including:
•indentation
•position of section headings (eg, the number and heading now appear above the section)
•format of definitions (eg, the defined term now appears in bold type, without quotation marks)
•format of dates (eg, a date formerly expressed as “the 1st day of January 1999”
is now expressed as “1 January 1999”
)
•position of the date of assent (it now appears on the front page of each Act)
•punctuation (eg, colons are not used after definitions)
•Parts numbered with roman numerals are replaced with arabic numerals, and all cross-references are changed accordingly
•case and appearance of letters and words, including:
•format of headings (eg, headings where each word formerly appeared with an initial capital letter followed by small capital letters are amended so that the heading appears in bold, with only the first word (and any proper nouns) appearing with an initial capital letter)
•small capital letters in section and subsection references are now capital letters
•schedules are renumbered (eg, Schedule 1 replaces First Schedule), and all cross-references are changed accordingly
•running heads (the information that appears at the top of each page)
•format of two-column schedules of consequential amendments, and schedules of repeals (eg, they are rearranged into alphabetical order, rather than chronological).
Takeovers (Fees) Amendment Regulations 2001 (2001 No 390)
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